Siyata Mobile announces closing of its upsized US$12.6 million U.S. initial public offering on the NASDAQ
Siyata Mobile Inc.,today announced the closing of its previously announced U.S. initial public offering of 2,100,000 units (each, a “Unit”) at a price of US$6.00 per Unit (the “Offering”). Each Unit is comprised of one common share in the capital of the Company (each, a “Share”) and one warrant to purchase one common share in the capital of the Company (each, a “Warrant”). The Shares and Warrants were immediately separable from the Units and were issued separately. The common shares of the Company (the “Common Shares”) and Warrants were approved to list on the Nasdaq Capital Market under the symbols “SYTA” and “SYTAW,” respectively, and began trading on September 25, 2020. Siyata received gross proceeds of approximately US$12.6 million, before deducting underwriting discounts and commissions and other estimated Offering expenses.
The Warrants are exercisable immediately, expire five years from the date of issuance and have an exercise price of US$6.85 per share.